Hong Kong needs around-the-clock gold trading

Jon Precious Metals

The HKEX has presented proposals for two new gold futures products, to be launched as early as July, which would trade 16 hours a day. But brokers say that might prove too short.
“The gold market trades around the clock. This is why our customers are trading at CME Group (Chicago Mercantile Exchange) in the United States, which trades 23 hours a day,” said Alfred Yeung Ping-kwan, founding chairman of Glory Sky Group, which trades gold and stocks for investors in Hong Kong.
HKEX this month said it would start offering two new gold futures contracts — one in U.S. dollars the other in yuan — with physical delivery.

This post was published at South China Morning Post